Animoca Brands co-founder: Cryptocurrency needs institutional support

Odaily News Animoca Brands co-founder Yat Siu said in an interview at the Korea Blockchain Week that without UGC (user-generated content), the Internet is worthless. When asked about Animoca Brands' next plan, Yat Siu admitted that the company's future is constantly changing, but "there is no conclusion yet, but what I want to say is that Animoca Brands will continue to invest to develop the Web3 ecosystem." In addition, Yat Siu also said that cryptocurrencies need institutional support. Compared with traditional finance, more than 80% of the investment in the US stock market comes from institutions. People will trust projects with institutional credibility more. The rise of institutional-grade tokens will determine the future of the altcoin market. In addition, when asked about the drama between TON CEO Pavel Durov and France, Yat Siu bluntly said: "We are not nervous. No matter what happened to Pavel Durov, the ecosystem is constantly developing."